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As part of the joint venture, Todos will be responsible for securing US regulatory approval for a coronavirus rapid point-of-care kit.
Qiagen reported year-over-year net sales of 1 percent, or 5 percent at constant exchange rates ahead of its planned Q2 earnings release next week.
Dubbed Automobi Molecular Diagnostics, the company will establish local manufacturing facilities and work to commercialize the Novodiag platform in China.
The Chinese joint venture aims to develop infectious disease assays based on iCubate's proprietary amplicon-rescued multiplex PCR technology.
The joint venture, called Renx AI Labs, will allow RenalytixAI to operate outside New York City and perform prospective revenue-generating contract research.
Through the JV and strategic partnership, the companies aim to provide precision diagnostic products and services to Hong Kong, Macau, South Korea, and Southeast Asia.
The firms will jointly invest in establishing a joint venture company in China, and Autobio has also invested €10 million in Mobidiag.
The lab joint venture reached in 2017 has increased testing volumes in the hospital core lab and expanded Western Connecticut's outreach services.
The new firm, TaiRx US, is developing a drug and companion Dx for the nodal protein, which has been linked to aggressiveness and resistance in multiple cancers.
The two firms will provide €14M ($16.2 million) of equity funding to commercialize the Idylla platform in the Chinese market.